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Oil still grows after the largest rise of the quarter in the last decade

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Oil still grows after the largest rise of the quarter in the last decade
April 01
09:00 2019

During today’s Asian session, oil shows a steady growth after the largest increase of the quarter in 10 years. WTI has reached the highest point since last November.

The statistics on business activity in China, which was published at the weekend, has supported the market.

Brent futures for June have risen by almost 1% – to the mark of 68.2 US dollars for one barrel. On Friday, the price was $ 67.58. On the last day of the trade, May futures rose to 68.39 US dollars.

The May contracts of WTI have increased by 0.7% to the value of $ 60.57. We recall that at the last session, their price was $ 60.14.

In March, China’s purchasing managers index showed an increase that exceeded expectations and amounted to 50.5 p. This is the maximum since last September. In February, for comparison, this indicator was equal to 49.2 p – this is the minimum value in the last 3 years. According to the forecasts, the index should have reached only 49.6 points.

On Monday, Caixin presented the data on the same index. The indicator has increased from 49.9 to 50.8 p instead of the projected 50 points.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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